Difference in weekly amount!

JS477

One of my pensions is £X a year. I'd like to calculate the weekly amount, so which is the correct method to do this?

Is it £X/52 or is it (£X/12)/4 or anything else?

Thanks

HappyMJ

Just divide by 52...that'll give you the easiest to calculate figure..

It's actually divide by number of days in the year 365 or 366 then multiply by 7.

JS477

Thanks. So which method do the authorities use when assessing your weekly income?

somethingcorporate

The difference between the two would be tiny (<0.5%) so it makes no odds.

Either way is fine I am sure.

schrodie

If X = £5000

then using £X/52 would give £96.15/week

and (£X/12)/4 would give £104.16/week

a difference of 7.7% (I think:D )

xylophone

There are 52 weeks in a year but only 12 calendar months- the calculation would be (£5000/13)/4 = £96.15.

schrodie

Where does the 13 come from?

dunstonh

13 comes from 4 week periods. there are 13 four week periods in a year. Not 12.